Wheeler to head N Zealand central bank

Former World Bank managing director Graeme Wheeler was named Tuesday as the new governor of the Reserve Bank of New Zealand. Finance Minister Bill English said Wheeler would take on the role when incumbent central bank chief Alan Bollard steps down on September 25 after 10 years at the helm. Wheeler, 60, began his career in the New Zealand Treasury before joining the World Bank in 1997, where he was managing director from 2006-2010 before leaving to run an advisory business in the United States. "Mr Wheeler's extensive experience makes him a highly respected figure in world financial markets and within New Zealand," English said in a statement. "We were fortunate to have someone of his calibre available for this important role."